Binance, the world’s largest crypto exchange, said Friday it has temporarily suspended all spot trading on its platform as it works to resolve an issue.
The exchange did not identify the nature of the issue, but said it was working to bring it back “as soon as possible,” suggesting the bottleneck isn’t significant.
Binance commands over 60% of all crypto spot volume. It has also increased its market share of Bitcoin spot volume to over 90% in recent quarters, thanks to zero commission, according to according to Arcane Research.
Bitcoin fell 1% to $27,649 and Ethereum fell 2% to $1,751 on the news.
More to follow.
Crypto giant Binance temporarily suspends spot trading by Manish Singh originally published on TechCrunch
